I took advantage at points in time to lighten up where I could today. Hate fighting that tape. To say I wasn't a worried about the action would be a lie. The last time I said I wasn't worried I was short Lockheed and it got taken over. I always worry, I have to. I did real well on my stock shorts, but my $NDX puts screwed me up. I shorted the snot out of GNK today and that helped a lot. I also got long LEH on the squeeze and did well there.I still have half my exposure on and don't think the trend has changed based on today. It really is all about oil though, and we will have to see if the G8 boys can stir the pot. I personally think it's a lot of chatter at this point. I'm off to an early dinner with the wife, kids and outlaws-uh, I mean in-laws. I'll be back later with some details.
Showing posts with label $ndx. Show all posts
Showing posts with label $ndx. Show all posts
Friday, June 13, 2008
Monday, June 2, 2008
Cautious
My gut says rally but these charts will keep me on my toes. The possible double top on the $NDX didn't help matters back in December and it looks very similar. The potential head and shoulders top on the $SPX is also reason for caution
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
